Telegraph.co.uk | FTSE 100 closes down as oil slumps after Saudi rules out production cuts Telegraph.co.uk Oil majors and mining stocks tumbled to the bottom of the blue-chip index over doubts the Saudi-Russian production freeze agreed last week would have little impact on the global overhang of oil. Shares in BP dropped 11.3p, or 3.2pc, to 345.4p, while ... |